MTS shareholders vote to approve $3.9 billion acquisition by Bell

BCE, parent company of Canada's third-largest wireless carrier Bell Mobility, has now overcome at least one hurdle to acquiring Manitoba Telecom Services (MTS), with the majority of MTS shareholders approving the deal.

In fact, the resolution received near-unanimous approval from shareholders, says MTS:

The Arrangement Resolution was approved by 99.66% of the 43,098,172 votes cast by Shareholders present in person or represented by proxy at the special meeting of Shareholders held earlier today.

Bell originally announced intentions to purchase MTS in May with a $3.9 billion deal that has seen a fair bit of skepticism from critics. Though the deal has now received shareholder approval from MTS, it's still subject to approval from various regulatory agencies.

Dan Thorp-Lancaster